UNION Minister for Investment and Foreign Economic Relations and Vice Chair of the Myanmar Investment Commission, Dr Wah Wah Maung, met yesterday afternoon with a delegation led by Mr Choi Shin-il, Chair of the Myanmar–Korea Institute of Economic and Security Studies, based in the Republic of Korea. The meeting took place at Office No 1 of the Ministry in Nay Pyi Taw.
The Union Minister noted that Myanmar has benefited from Korea’s official development assistance (ODA) loans and support in various sectors, including agriculture, health, education, human resource development, transport infrastructure, and electricity. She remarked that Korea’s Saemaul Undong village development model serves as a valuable example that can be adapted to Myanmar’s context.
She explained that Myanmar is striving to expand investment cooperation, not only with long-standing partners but also with new ones, adding that Korea currently ranks sixth in investment and ninth in trade with Myanmar. She reaffirmed the Ministry’s readiness to assist investors in accordance with the Myanmar Investment Law and related regulations.
Dr Wah Wah Maung also acknowledged the significant presence of Korean enterprises in Myanmar, particularly in the CMP garment sector, and invited further Korean investment, assuring that the government remains committed to maintaining a stable and favourable business environment.
Mr Choi Shin-il said that Korean entrepreneurs are interested in expanding their business and investment activities in Myanmar. He discussed potential investment opportunities, incentives under the Myanmar Investment Law, and the legal and administrative support available to investors. He added that Korean businesses are eager to engage proactively in exploring future investment prospects in Myanmar.
The meeting was attended by directors-general, the deputy permanent secretary, deputy directors-general, and officials from the Ministry of Investment and Foreign Economic Relations, as well as Korean business representatives.
The delegation from the Myanmar–Korea Institute of Economic and Security Studies included company representatives from sectors such as construction and real estate, digital X-ray detector manufacturing, industrial fan production, power cable manufacturing, telecommunications and networking equipment, screen golf, and cement production. — MNA/KZL
